Entries by Giles

Property Interest Limitation Rules

May 31, 2022 in /by

Following from our newsletter from April last year, just a reminder to our clients that the interest deductions are being phased out for properties acquired before 27 March 2021 as follows:

Covid Leave Support Scheme and Short-Term Absence Payment

May 31, 2022 in /by

As the Covid-19 pandemic continues, a lot of businesses are experiencing shortage of staff and impact on their businesses with employees having to isolate or not being able to work from home.  There are two different COVID-19 payments available for employers and self-employed people as follows:

Small Business Cashflow Scheme Loan

May 5, 2022 in /by

The small business cashflow scheme was introduced in May 2020 to assist small to medium businesses who have been impacted by the Covid-19 pandemic.
On 21 March 2022, the loan amount has been increased to $20,000 from $10,000 plus $1,800 per full-time equivalent employee (up to 50 employees).

Deductible Expenses for Residential Investment Properties

May 19, 2021 in /by

Since our last blog on ‘Tax Changes for Residential Rental Properties’ in April we are getting a lot of clients wanting to know what can be claimed as an expense against the investment rental properties. Read on to find out what can and can not be claimed against investment rental properties.

Moatrek Case Study

March 16, 2021 in /by

Following is an interview with Miles, CEO of Moatrek Tours. Moatrek is a GECA client using their Virtual Accounting Team to replace their internal accountant. Read on to find out how this service allowed Moatrek to grow their business.

Airbnb Properties – Tax Impact for Change in Use

July 15, 2020 in , /by

Properties rented out for short-term accommodation and as well as being used by property owners come under the Mixed-use asset rules. The mixed-use asset rules limit deductions in relation to the property and any excess deductions are quarantined and offset against future year’s rental income.

Tax Updates

July 15, 2020 in , /by

by Sheral Reddy, Associate Director at GECA Chartered Accountants. If you need help with tax advice including end of financial year preparation, then Sheral and the GECA team can help.